In the rapidly evolving business climate, diverse teams with a variety of skills and perspectives are crucial for success. As insurers focus on enhancing their diversity, equity and inclusion efforts, they must consider all stages of an individual’s relationship with the organization, including the hiring and promotion process.
Executive SummaryInstead of focusing on required degrees and years of experience, carriers need to reframe their thinking about recruiting and promotion, writes The Jacobson Group Managing Director Brett Carter. He explains that rather than requiring 10 years of management experience, identifying what you're expecting someone to have achieved in those 10 years is a more inclusive approach. Here, he offers additional tips for identifying skills that might show up along nontraditional career paths—necessary skills for building teams that can continually adapt to new challenges, flex as priorities change and accommodate future industry needs.
However, just as a diverse workforce won’t make an impact without a deep-rooted commitment to equity and inclusion, simply bringing in candidates from underrepresented groups won’t automatically lead to better hiring outcomes. Traditional hiring and promotion processes often emphasize past experiences and performance. There must be a fundamental shift within an organization’s recruiting and talent management functions to proactively seek a diverse slate of qualified candidates, recognizing that those qualifications and requirements themselves may need to be redefined.
Being more inclusive does not mean lowering your standards or striving to achieve a “quota.” It involves being more strategic and focused in identifying necessary skills and how they are manifested in nontraditional career paths and roles. The end result is a team that can continually adapt to face new challenges, flex as priorities change and accommodate the industry’s future needs.